Strasburger Tax Strategies Newsletter - Texas Taxpayer Amnesty: Comptroller Offers a Limited-time Waiver of Penalties and Interest


TAX STRATEGIES NEWSLETTER • August 2, 2007 • STRASBURGER & PRICE, LLP

PREPARED BY Chris Kotlarz 901 Main Street, Ste 4400 Dallas, Texas 75202 EDITORS Luke Bailey Farley Katz TAX STRATEGIES GROUP Luke D. Bailey James R. Browne Daniel L. Butcher R. Bradley Fletcher Drake A. Frazier Farley P. Katz Jack M. Kinnebrew Ashley T. Kisner Michael A. McClelland Crawford Moorefield Charles J. Muller Toni Scott Reed John K. Round Dani D. Smith Printer friendly page View as Acrobat PDF Subscribe to TAX RSS		Texas Taxpayer Amnesty: Comptroller Offers a Limited-time Waiver of Penalties and Interest ***Action Required By August 15*** This article discusses an opportunity provided by Project Fresh Start – A Texas Taxpayer Amnesty Program. From June 15 to August 15, 2007, taxpayers can pay underreported or delinquent state taxes, and/or come into compliance with past registration obligations, and avoid all penalties and interest. In other words, you can clean the slate of any past errors at a cost that may be substantially less than will be the case if you get audited in the future, in which event you would be responsible for all taxes, penalties and interest. Penalties can be as high as 60 percent of tax due. The amnesty is available for all state taxes administered by the Comptroller, including franchise tax, sales tax, and excise taxes, but excluding unclaimed property and the Public Utility Commission gross receipts assessment. Only reports originally due before April 1, 2007 are eligible for this limited-time amnesty. Additionally, it does not apply to assessments already identified by the Comptroller, taxpayers currently under audit or review, or taxpayers that the Comptroller has already contacted about an audit or possible deficiency. Strasburger attorneys are readily available to aid in the evaluation of this opportunity and provide any necessary assistance.

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